Warsaw stocks fall despite strong zloty and record commodity prices

APA - Austria Presse Agentur
opublikowano: 11-04-2006, 20:49

Warsaw (Puls Biznesu) – The Warsaw Stock Exchange fell today along with its Western European counterparts and the Wall Street’s weak opening.

Warsaw (Puls Biznesu) – The Warsaw Stock Exchange fell today along with its Western European counterparts and the Wall Street’s weak opening.

 

In the recent weeks, commodity prices used to drag the market up. But today – despite the fact that oil and copper hit new records, the stock decreased. Neither the Polish currency zloty appreciating against euro and dollar did not help. Although the WIG20 index hit its all-time record of 3,002.45 points in the morning, it ended at 2,970.61, or 0.58 percent. The indices of mid and small caps noted deeper falls of 1.5 percent (MIDWIG) and 1.9 percent (WIRR).

 

Bioton insulin producer which yesterday hit its all time record after having jumped nearly 13 percent, today dived 7 percent to PLN 21.2. PKN Orlen fuel giant ended 1.5 percent down while Lotos 1.1 percent down although oil in London cost USD 69. Lotos will probably not pay out a substantial dividend for the year 2005. According to ISB agency, it will buy 31 percent of Petrobaltic. Hungarian MOL added for the ninth consecutive day to PLN 365.

 

Among small caps, Elzab jumped 9.7 percent. MWCR, the Italian shareholder of the company wants to spend part of the capital to pay out dividend. Odlewnie Polskie jumped 8.3 percent after “Puls Biznesu” published the report of Gieldowe.pl with the target price of PLN 8.9, or 37 percent more than the stock traded today.

 

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